DASH Technical Analysis: Bullish Momentum Eyes to Break Above $35

Representing strong bullish momentum, DASH saw a jump of 3% in the last 24 hours with a daily high of $34.89. Hitting its two-year low, over the last 7 days, DASH witnessed a sharp drop of 21.8%, barely escaping to fall below the crucial mark of $31. However, at its current trading price of $34.85 as of writing, DASH has been able to deliver an excellent recovery with prices bracing to cross above $35, making resistance at $40. High demand for DASH exhibits increasing enthusiasm among buyers. A surge of 5% in market cap ($ 378.97 million) and a 0.80% increase in trading volume ($44.60 million) explicitly support the bullish sentiment in the market. 

Key Points

Source: Tradingview

DASH Technical Analysis

The DASH prices break above 78.60% Fib retracement level after a recent decline to 38.20% indicating more gain for the traders as prices are teasing to cross the crucial mark of $35. DASH shows a bullish reversal from the 200-day SMA, with a low price rejection candle resulting in a 0.4% price jump in the last hour. The increasing buying pressure signals an upward continuation to above the $35 mark. If prices continue to maintain the bull run, DASH is likely to cross $35, making resistance at $40, with entry opportunities for sideline traders, whereas if it fails to sustain the momentum, it may fall back under $33.

Technical Indicators

Challenging the 14-day SMA, the RSI line is teasing the overbought boundary due to high buying pressure in the market with the continuation of bullish momentum. With an increasing gap between slow and fast lines on a bullish histogram, MACD also braces for another upswing slightly touching the signal line after making a bullish crossover.

Thus, the technical indicators support the strong bullish run in the market, as DASH prices are challenging the $40 resistance due to high buying pressure with RSI hoving around the overbought zone.